According to Taiwan Electronic Times, the semiconductor supply chain stated that TSMC not only saw a comprehensive recovery in its existing process capacity utilization, but also achieved better than expected 2-nanometer progress. In the first quarter, in addition to a slow recovery in 8-inch capacity utilization, TSMC's 12 inch production utilization rate reached over 80%, especially with the 5/4-nanometer process remaining fully loaded. The contract price of nearly $20000 for 3 nanometers has risen from 75% by the end of 2023 to 95%, and the monthly production capacity in the first quarter has reached 100000 pieces ahead of schedule. According to the supply chain, TSMC's 2-nanometer progress has been quite smooth. Baoshan P1 factory will start trial production in the fourth quarter of 2024 and enter mass production in the second quarter of 2025. The first customer to adopt it is still Apple, and many customers including Intel, MediaTek, Qualcomm, and AMD have also started cooperation.